Technological change is beneficial only when other jobs replace the ones lost.

What do you call an economist with a prediction? Wrong.

But of course you can have your cake and eat it, too - if you decide to to bake a second cake. And you may well find that baking two cakes does not take twice the work of baking one.

By default, we have created a "system" of nursing-home care for the aged in which middle-class people pay exorbitant rates to for-profit nursing-home entrepreneurs - and then when private resources are consumed and the patient qualifies as a pauper, the nursing home begins billing Medicaid. This is precisely the antithesis of social citizenship; instead of the poor being accorded the dignity associated with the middle class, equality of treatment is achieved by making the middle class undergo pauperization.

Technological advance often thrives in sheltered and subsidized markets, which defy free trade.

American critics of welfare statism are often surprised to learn that countries like West Germany, with a much more comprehensive welfare state and a statistically larger public sector, have fewer government employees per capita than the United States does.

In a world where technology and capital are highly transferable, there is a real risk that comparative advantage comes to be defined as whose labor force will work for the lowest wage.